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, instead just voting to reinstate a tax cut, that then it sort of president obama's tax cut so he gets credit for that. >> do you have any sense of what will happen around that table today? who called the meeting if there's an agenda or are they going to sit around and stare at each other until one of them blinks? >> we don't have a sense. i'm sure that we will be getting a sense. this is supposed to take place at 3:00 p.m. at the white house. the vice president, president and four top congressional leaders. we don't know what will be said. i think we will likely hear from some camps afterwards. >> if you are wondering what a trip down the fiscal cliff might mean for your paycheck, for your 401(k), look no further than yesterday's dow. at the opening bell, a dive of more than 1%. investors finding little hope for the fiscal cliff compromise on capitol hill. when word came down two sides might be meeting. reversal of fortune. the dow rebounding for a while before finishing slightly lower. >>> a nation this morning remembering the american general credited with orchestrating one of the m
. and the third part is $1 trillion in obama's taxes. that's the obama care taxes they hid from you because they're all scheduled to come in after he got safely elected. >> let's go back to the bush-era tax cuts. for you, given your position, that's really what we want to focus on here. you make the point that democrats could have voted before when they had super majorities or big majoritiemajo and that's a fair point. but in part thanks to you, voting for tax increases is a political death for republicans and democrats. that brings me to my next question. i've talked to republicans and democrats who think we are going to go off the cliff, and here's the reason why. if we go off the cliff, everybody's taxes go up automatically. then congress can come back in january and vote for a tax cut as opposed to tax increases. what do you think about that? >> one of the challenges, of course, is people see this happening. they realize the president has not been negotiating at all over the past three months. we learned days and weeks and months afterwards that they had non-meetings where this is going on.
that every obama has tried to do. it's really over a tax increase, and for what? it's really to stop primary challenges. that's what this is all about. i mean, it's really bringing the country to a standstill for their own political short term. >> "new york times" is talking about the urgency issue in all of this, and lacking urgency that we have witnessed. they say, yeah, with days left before the fiscal punch lands, both sides are exhibiting little sense of urgency. rather than to foster progress. perry is that the biggest thing, the primaries moving out of this and how everything looks back? >> i think there are two things going on. the first is democrats generally feel they won a man dade. they're not backing down -- the second thing is the primary issue. you have members of congress say last week there was a proposal to raise taxes, and a lot of republicans said i can't vote for that, a million only tax increase. they were worried about primaries. that's driving this in a very strong way. >>> there are people in washington, d.c. that will tell us this is how it all happens. congressman
tax hikes don't go in to effect. president obama on friday saying he would accept a deal as long as it does not allow taxes to go up on middle class americans, as long as it extends unemployment insurance and lays the groundwork for deficit reduction in the future. so there's sort of scaling back their expectations. house speaker boehner tried to get an alternative bill passed through the house last week. that failed. the focus shifts to the senate. reid and mcconnell will really be charged with trying to hammer out the fine details of that deal that can make it through the senate and through the house so that is the challenge moving forward. of course, president obama here in hawaii for his christmas cray case. he played some golf over the weekend. also, attended the memorial service for the late senator daniel inouye. thomas, on a much lighter note, he asked me had i taken my flip flops out last hour. i hadn't but i did since my work is wrapping up for you guys, flip flops are out and i'm ready to join those folks on the beach behind me. >> i'm very proud of you. i don't want t
to get a deal for weeks and says the real problem that republicans won't admit that obama won the election. >> on taxes, i know it's hard for republicans but the president ran on the platform. 250. no tax increase for people below but taxes for people above. he won. 60% of voters said they were for it in exit polls including republicans. >> wake of house speaker john boehner's plan "b" failure, all eyes turn to senate leaders harry reid and mitch mcconnell and whether they work out something short of $4 trillion grand bargain. last-minute stop gap. attending tax cut for people making $250,000 or less. and unemployment benefits for 2 million people who will lose the benefits a week after christmas. >> it is going to be a patch. because in four days we can't solve everything. >> yet, other republicans note the president short-term fix raises some taxes, yet punt spending cuts until next year. >> i would vote for revenue, including the tax rate hike though i don't like them to get, to save the country from becoming greece. i'm not going to set aside the $1.2 trillion in cuts. >>
a million dollars. they wouldn't support that. obama can come to them and say here's the tax cut for all income, $250,000 less. are you for or against it. that's an incentive for them to wait. >> the democrats still feel like they have a lot of leverage politically and strategy-wise and going into the new year is not that bad for democrats. it's bad for real americans. let's go back to the tax. your paycheck is going down 2%. everyone's taxes go up. it will really have an effect is when people get their first paycheck in january and the christmas bills are due, the average working class family will have their paycheck drop not 2% but closer to 5%. democrats see it as leverage, but it hurts real people for the short-term. >> when you talk about it, absolutely. if we go over the cliff without changing anything, this will be the end of unemployment benefits for more than two million americans. people who cannot wait a couple of months to get the money back and don't have the safety net. this is a very serious situation for some americans. on this show we have a slope and not a cliff. for so
can sell this to either their base or to the house at least as a tax cut, not a rise in taxes? >> chuck schumer brought up a good point. a key moment of these entire negotiations came on wednesday night when president obama calls mitch mcconnell, bring the republican leader in the process. what happens now is very important. as sam said, they'll be negotiating today and over the weekend in the senate. and if this $250,000 comes to the floor, if a few republicans attach themselves to what reid and obama agree to, then that means when it pose gophers to the house it has a much better chance of attracting republican support. if mitch mcconnell aligns republicans and tells everyone to oppose it in the senate republican conference, the chances of it succeeding in the house are pretty low. >> sam, is this the end of the road for grover norquist and his pledge? >> it's odd because grover was the one sort of outside government institution on the conservative side who agreed with speaker boehner's plan "b" which would have allowed taxes to go up above $1 million in income. all the othe
, as well. i think in obama's proposal, he wasn't moving as much on the dividend tax as a compromise but, you know, that never settled at the end of the day. >> all right. enjoy that 4.2% payroll tax rate while it lasts. >> absolutely. >>> up next, freedom of speech with the right to bear arms. that's in the spin cycle. >>> amber and marcy and paul started north carolina based footsteps clothing which had a booming christmas themed pajama line. not wanting to be just a seasonal business, they added other holidays and eventually expanded to products that celebrate family life. stop! stop! stop! come back here! humans -- we are beautifully imperfect creatures living in an imperfect world. that's why liberty mutual insurance has your back with great ideas like our optional better car replacement. if your car is totaled, we give you the money to buy one a model year newer. call... and ask one of our insurance experts about it today. hello?! we believe our customers do their best out there in the world, and we do everything we can to be there for them when they need us. [car alarm blaring] ca
. president obama as reported is in his native hawaii. before leaving washington, president obama urged congress to pass a mini plan that would preserve middle class tax rates. brianna keilar joins us live from hawaii. what do we think will happen as the holiday week rolls out? >> reporter: well, and don, we should probably say where our senate majority leader harry reid and senator mcconnell, the republican leader in the senate, because now all eyes turn to the senate. they're set to come back to town on the 27th. that is thursday. and at this point there are a number of options for some sort of bill that senate majority leader harry reid could put on the floor, but right now it appears democrats in the white house are pushing for something that still concentrates on making sure that income tax rates for those making a quarter million dollars or less don't go up. that said, it's really hard to see how at that rate senator mcconnell might allow some republican senators to support it or that some republican senators would even want to jump on board with that and even harder to see how a
't consummate with the american people. president obama just ran on a program of resisting some of the fundamental ways in which the republicans wanted to change medicare and raise taxes on people over $250,000. he won the election and people from the very red districts elected in the house simply have not adapted to that reality. >> let me go to jonathan chait and the primal scream and the election president obama won, but you wouldn't know this in washington. doesn't it feel sometimes like one side experienced maybe a different election? >> they did. for the house republicans, they don't have to worry about public opinion. the house republicans got fewer votes than house democrats, but the house republicans won anyway because the districts are drawn in such a way the vast majority of republicans are insulated from public opinion. this conversation we're having of what do the republicans have to do to win back middle america, that's not relevant to them. the only thing they have to worry about is a tea party challenger. that's the only way these guys are going to lose. that's p
. and a mad scramble is on here in washington to avoid the drastic tax hikes and spending cuts that many fear will plunge the economy back into recession. president obama flies back from hawaii tonight to be ready if the senate comes back with a plan when it returns to work tomorrow. and house leaders are huddling with members on stand-by to return. senior congressional correspondent dana bash is following all of it for us. what are you hearing? >> there was a conference call of course members of the house leadership even, they're back in their districts, but there was a conference call today among those house republican leaders trying to figure out if and when the house should come back into session. two republican sources tell me they did not make a decision on this call. it's still up in the air. and a big reason for that is if anything can get done in the next six days, the ball is in the senate's court. the capitol is a ghost town. neither chamber in session. an eerie calm since the fiscal cliff only congress has the power to avert is less than one week away. from their home, senate demo
'neill. obama needs to be ronald reagan. would vote for revenues, including tax rate hikes, even though i don't like them to save the country from becoming greece but i'm not going to set aside the 1.2 trillion in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made as soon as. to my republican kcolleagues, te the ronald reagan model is if you get 80% of what you want, that's a good day. i lime simpson-bowles. the president is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the public from a tax hike that, is not a tax increase in my book. chuck, maybe you and me and some other people in the senate can find a way to find this on the short term but on the long term there's not going to be a deal any time soon. >> you think we're going to go over the cliff? >> i think we're going to fall out of the fiscal tree. the big chance at the big deal is at the debt ceiling. that's when we'll have leverage to turn the cou
,000 a year. the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election, he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they're going to do because he backed off of even his own proposal. mr. president, the house, we hear this so often, is controlled by the republicans, and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that they would support and boehner would support it if it were reasonable, but right now we haven't heard anything. i don't know, and it's none of my business, i guess, although i am very curious, if the speaker and the majority leader, the republican leader over here are even talking. what's going on here
weapons. >> glor: margaret brennan, thank you. there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues, including tax rate hikes even ugh ih i don't like them, to get a-- to save the country from becoming greece, tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. ratey republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> glor: with christmas just two nuys away last minute gift buyers are out. today shopper track sa
for lawmakers to head off mandatory budget cuts and tax hikes, and nancy cordes is in honolulu where president obama is having his christmas vacation. nancy, good morning. >> reporter: good morning to you, rebecca. it's almost as if the president and congressional leaders have called a sort of time-out when it comes to the fiscal cliff. there are no major discussions going on right now about what to do now that talks between the president and the speaker appear to have stalled. in fact, the president and senate majority leader harry reid were both here in honolulu yesterday for the funeral of hawaii senator daniel inouye. we're told they didn't really discuss what to do next. before he left washington the president urged leaders to craft a sort of scaled down plan that simply extends the bush tax rates for the middle class and extends long-term unemployment benefits for another year. but, jeff and rebecca, it's really unclear whether even a package like that could pass both houses of congress. so the president is going to be cutting his vacation short and headin
-back version of the grand bargain, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats, majority leader harry reid spoke and praised senator inouye for his partisan spirit, reaching across the aisle. of course in an earlier memorial service, the president called the late senator his earlier inspiration, on a a lot of members of congress came together to pay their respects. >> thank you, kristin. >>> if congress and the president fail to reach a deal, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benef
away zip like pbs, i love big bird. i'll call it the economy tax. it's been crushing. i've been in business for 25 years. have i no idea what you're talking about. >> where was obama tonight? he went in there disarmed. what was romney doing? he was winning. >> you'll get your chance in a moment. i'm still speaking that wasn't a question, that was a statement. >> i don't look at my pension. it's not as big as yours. >> you said in the rose garden the day after the attack it was an act of terror. >> let me call it an act of terror -- >> can you say that a little louder, candy? >> he did call it an act of terror. >> hi a binder full of women. >> we also have fewer horses and bayonets. >> here's old moderate mitt. where you been, boy. i missed you all these last few years. >> if you can't change washington from inside the white house, then let's get you the plane ticket back to chicago you've earned. >> don't move. vote. voting is the best revenge. >> i ask people to vote for the love of country. >> it is election day, america. >> today's a huge day? >> yes, people are choosing on t
taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. makers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >> a united states senator was arrested for drunk driving early sunday morning. idaho republican was taken to jail in alexandria virginia after midnight. he was stopped for running a red light and charged with driving under the influence. the senator has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states up to five feet of snow is expected. snow is also falling back east as well. like lake effect snow has blanketed areas around cleveland and buffalo. high winds are threatening to delay flights in new york, philadelphia and washington. >>> the report you're about to see has very graphic images of people hurt
barrasso on president obama's position. >> i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for programs. he gets to cut the military, and he gets to blame republicans for it. >> let's take the cynicism out of that, let's ask the question, is there in fact some benefit to going over the cliff? >> i think that there is. i don't think that the president does want to go over the cliff. i think he's made it extremely clear that he doesn't. and that's because he -- the president is not that much of a risk taker, he would rather come to a deal. he's eager to come to a deal. i don't think he's kidding, hen watts a big deal. he just doesn't have a partner on the other side. he's right and republicans know he's right. if you go over the cliff at this point tax rates go up, on dividends, capital gains and estate taxes go up. republicans want them down, they have to actively push to force them down. democrats only have to lower them for some elements of the po
. i call it the economy tax. it's been crushing. look, i've been in business for 25 years. i have no idea what you're talking about. >> where was obama tonight? he went in there disarmed? what was romney doing? he was winning! i'll get your chance in a moment. i'm still speaking. >> i don't look at my pension. it's not as big as yours. >> you said the day after in the rose garden it was an act of terror. >> let me -- >> he did call it an act of terror. >> i brought us whole binders full of women. >> well, governor, we still have fewer horses and bayonets. you do the same things we do, but say them louder, and somehow that would make a difference. >> all tied up. our brand-new numbers on the race for president. >> here's old moderate mitt. you been, boy? i missed you these last few years. >> if you can't change washington from inside the washington, then let's get you the plane ticket back to chicago you've earned. >> don't move over. voting's the best revenge. >> revenge? instead, i ask the american people to vote for love of country. >> it's election day, america. >> today's a hu
thou,000 a year. the bush tax cut will expire at the end of this year. obama was elected with a surplus of about three million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was response to something that the speaker gave them himself but i guess with the dysfunctional republican caucus in the house, even the speaker can't tell what they are going to do because he backed off even his own proposal. the house, we hear so often, is controlled by the republicans. and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that he would support and that boehner would support if it were reasonable. but right now we haven't heard anything. i don't know and it's none of my business, i guess, although i am very curious, if the speaker and the majority leader, the republican leader over here are even talking. i mean, what's going on here? mr. president, you can't le
out in the world though it is hard to find in washington these days. president obama spending holidays in beautiful hawaii where reports now surfaced where he is looking to strike a smaller fiscal deal that would extend tax cuts for the middle class but not tackling any spending cuts. chief white house correspondent ed henry is live in honolulu with more. ed, for the first time, people like joe lieberman are saying i really think we'll go over the cliff. what do you hear? >> reporter: it's a real possibility, you're right. we're a week out. people on both sides have been talking this thing to death. it might need a christmas miracle at this point to avoid going off the cliff. the president scaled back plan basically would extend unemmoment benefits for two million people who will lose them a week after christmas if there is no deal. he also wants to extend tax cuts for 98% of americans. you heard him talk about that again and again. that level of $250,000 or less. the republicans have not afreed to that on the hill obviously. when you talk to folks like senator lindsey graham, they say
means to me the democratic party is a godless party. with the reelection of president obama, the slaughter of innocent unborn babies will continue. we have a president who supports partial birth abortion. but the americans made their decision. they want higher taxes, they want the slaughter of babies to continue and i find it's totally -- i am totally disillusioned with the american people for voting this president back into office. host: in new york. democratic caller. caller: i am in favor of religion and politics, because i believe our whole country has been found the on judicial system. the fact you are not to steal or to murder or to do, you know, thou shall not, the 10 commandments, are based upon the religious system. when you go into court, you have to put your hand on the bible to swear to tell the truth and nothing but the truth, so help you god. so absolutely. this is one of the reasons i would like to comment that our country is going to the place where it is now because we are removing those principles, we are removing the principles out of our laws. this is why
? ♪ ♪ na na na na na na na na ♪ and everybody go uh! >>> we told you last hour president obama is spending his last few hours in hawaii before returng early to washington. he's expected to arrive tomorrow, just five days ahead of the fiscal cliff, which includes an across the board tax hike that congress has tried but failed to undo. cnn's dana bash is with us from washington, our senior congressional correspondent. we spoke last hour. you told us that hour speaker john boehner was to convene this conference call to decide whether or not to call the house back into session. we know the senate is supposed to convene, but nothing can, of course, take place until the house is in session as well. do we know the results of that conference call? will boehner reconvene the house? >> reporter: i'm told by a source familiar with the call, which just happened within last hour, as you said, that no decision was made on the schedule or timing for the house. as we talked about an hour ago, the leaders in the house have promised the members that they won't be called back without 48 hours notice. so at t
Search Results 0 to 31 of about 32 (some duplicates have been removed)